Unlock Savings with Recent Rate Drops: A Smart Move for Homeowners in California
If you purchased your home in the last two years, you likely did so at a time when interest rates were higher. With recent changes in the market, now is the perfect time to explore how you can lower your monthly payments and save thousands over the life of your loan.
What’s Changing?
The Federal Reserve has announced plans to lower short-term interest rates in their upcoming meeting on September 18, 2024. Historically, reductions in short-term rates have led to decreases in mortgage rates, creating an opportunity for homeowners to refinance. With mortgage rates already beginning to drop by 0.25% to 0.5%, and more reductions expected through 2025, now is an ideal time to explore refinancing options and start saving.
Why Refinance?
Refinancing now can lower your monthly mortgage payments, saving you significant amounts over the term of your loan. With rates already falling and expected to decrease further, you can take advantage of today’s lower rates and potentially refinance again in six months — often at no cost.
Special Refinance Programs Available
If you have a VA or FHA loan, you may be eligible for special refinancing programs that require minimal documentation, no appraisal, and can be completed in less than two weeks. These options provide a hassle-free way to lower your rate quickly.
Why Work with a Trusted Mortgage Advisor?
Refinancing is not a one-size-fits-all solution. It’s essential to work with someone who understands your unique financial situation. As a mortgage advisor with 35 years of experience at National Pacific Lending, I, Reem Misto, can guide you through the refinancing process and recommend the best options tailored to your needs.
Take advantage of this opportunity and contact me today to see how much you can save by refinancing. The time to act is now!
